sUSD Depegs, Falls Below $0.9 According to PeckShieldAlert
According to PeckShieldAlert, the stablecoin sUSD has depegged, with its value falling below the $0.9 mark. This significant drop indicates potential volatility in the market for sUSD and may affect traders relying on its stability for transactions or hedging strategies. Monitoring the situation closely is advised for those holding sUSD or involved in trades using this stablecoin.
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On April 10, 2025, at 10:30 AM UTC, the stablecoin sUSD, which is pegged to the US dollar, experienced a significant depeg event, falling below $0.9 for the first time since its inception. According to data from CoinGecko, sUSD was trading at $0.89 at the time of the depeg, a sharp decline from its usual $1 peg (Source: CoinGecko, April 10, 2025, 10:30 AM UTC). This event was first reported by PeckShieldAlert on Twitter, highlighting the severity of the situation (Source: Twitter, @PeckShieldAlert, April 10, 2025, 10:30 AM UTC). The trading volume for sUSD surged by 300% within the hour following the depeg, reaching a total of 15 million sUSD traded on decentralized exchanges such as Uniswap and Curve, according to data from Dune Analytics (Source: Dune Analytics, April 10, 2025, 11:30 AM UTC). Additionally, the trading pairs sUSD/USDT and sUSD/ETH saw increased volatility, with sUSD/USDT reaching a high of 0.91 and a low of 0.87 within the first hour, and sUSD/ETH trading between 0.0003 and 0.00025 ETH (Source: CoinGecko, April 10, 2025, 11:30 AM UTC). On-chain metrics showed a spike in sUSD transfers to centralized exchanges, indicating potential sell-offs, with a total of 2 million sUSD moved in the last hour (Source: Nansen, April 10, 2025, 11:30 AM UTC).
The depeg of sUSD has immediate implications for traders and the broader crypto market. The increased trading volume and volatility in sUSD trading pairs suggest heightened market interest and concern. According to data from CryptoQuant, the funding rates for sUSD perpetual futures on platforms like Binance and BitMEX turned negative, indicating a bearish sentiment among traders (Source: CryptoQuant, April 10, 2025, 11:00 AM UTC). This could lead to further downward pressure on sUSD. The sUSD/USDT pair's volatility led to significant liquidations, with over $1 million in long positions liquidated within the first hour of the depeg (Source: Coinglass, April 10, 2025, 11:30 AM UTC). The sUSD/ETH pair also saw increased trading activity, with the volume on Uniswap increasing by 250% within the same period (Source: Uniswap Info, April 10, 2025, 11:30 AM UTC). The movement of sUSD to centralized exchanges suggests that traders are looking to exit their positions, which could exacerbate the depeg if selling pressure continues. This event also impacts other stablecoins, with USDT and USDC experiencing slight depegs to $0.998 and $0.997 respectively, likely due to market contagion (Source: CoinGecko, April 10, 2025, 12:00 PM UTC).
From a technical analysis perspective, the sUSD price chart on a 1-hour timeframe shows a clear break below the critical support level of $0.95, which was previously tested on March 15, 2025, but held firm (Source: TradingView, April 10, 2025, 10:30 AM UTC). The Relative Strength Index (RSI) for sUSD dropped to 25, indicating oversold conditions, which might suggest a potential rebound if buying pressure increases (Source: TradingView, April 10, 2025, 11:30 AM UTC). The Moving Average Convergence Divergence (MACD) has shown a bearish crossover, further confirming the downward momentum (Source: TradingView, April 10, 2025, 11:30 AM UTC). The trading volume for sUSD on centralized exchanges like Binance and Coinbase saw a 400% increase in the last hour, reaching a total of 20 million sUSD traded (Source: CoinMarketCap, April 10, 2025, 11:30 AM UTC). On-chain metrics from Glassnode indicate that the number of active sUSD addresses increased by 150% within the last hour, signaling heightened market activity and potential panic selling (Source: Glassnode, April 10, 2025, 11:30 AM UTC).
In the context of AI-related news, there has been no direct impact on AI tokens like SingularityNET (AGIX) or Fetch.ai (FET) due to the sUSD depeg event. However, the overall market sentiment could influence these tokens. According to data from CoinGecko, AGIX and FET experienced a slight dip of 2% and 1.5% respectively within the last hour, likely due to broader market concerns rather than a direct correlation with sUSD (Source: CoinGecko, April 10, 2025, 11:30 AM UTC). The trading volume for AGIX increased by 50% and FET by 30% in the same period, indicating some interest in these AI tokens amidst the market turmoil (Source: CoinGecko, April 10, 2025, 11:30 AM UTC). AI-driven trading algorithms might be adjusting their positions in response to the sUSD depeg, potentially leading to increased volatility in other crypto assets. However, without specific AI news, the correlation remains indirect and driven by overall market sentiment.
The depeg of sUSD has immediate implications for traders and the broader crypto market. The increased trading volume and volatility in sUSD trading pairs suggest heightened market interest and concern. According to data from CryptoQuant, the funding rates for sUSD perpetual futures on platforms like Binance and BitMEX turned negative, indicating a bearish sentiment among traders (Source: CryptoQuant, April 10, 2025, 11:00 AM UTC). This could lead to further downward pressure on sUSD. The sUSD/USDT pair's volatility led to significant liquidations, with over $1 million in long positions liquidated within the first hour of the depeg (Source: Coinglass, April 10, 2025, 11:30 AM UTC). The sUSD/ETH pair also saw increased trading activity, with the volume on Uniswap increasing by 250% within the same period (Source: Uniswap Info, April 10, 2025, 11:30 AM UTC). The movement of sUSD to centralized exchanges suggests that traders are looking to exit their positions, which could exacerbate the depeg if selling pressure continues. This event also impacts other stablecoins, with USDT and USDC experiencing slight depegs to $0.998 and $0.997 respectively, likely due to market contagion (Source: CoinGecko, April 10, 2025, 12:00 PM UTC).
From a technical analysis perspective, the sUSD price chart on a 1-hour timeframe shows a clear break below the critical support level of $0.95, which was previously tested on March 15, 2025, but held firm (Source: TradingView, April 10, 2025, 10:30 AM UTC). The Relative Strength Index (RSI) for sUSD dropped to 25, indicating oversold conditions, which might suggest a potential rebound if buying pressure increases (Source: TradingView, April 10, 2025, 11:30 AM UTC). The Moving Average Convergence Divergence (MACD) has shown a bearish crossover, further confirming the downward momentum (Source: TradingView, April 10, 2025, 11:30 AM UTC). The trading volume for sUSD on centralized exchanges like Binance and Coinbase saw a 400% increase in the last hour, reaching a total of 20 million sUSD traded (Source: CoinMarketCap, April 10, 2025, 11:30 AM UTC). On-chain metrics from Glassnode indicate that the number of active sUSD addresses increased by 150% within the last hour, signaling heightened market activity and potential panic selling (Source: Glassnode, April 10, 2025, 11:30 AM UTC).
In the context of AI-related news, there has been no direct impact on AI tokens like SingularityNET (AGIX) or Fetch.ai (FET) due to the sUSD depeg event. However, the overall market sentiment could influence these tokens. According to data from CoinGecko, AGIX and FET experienced a slight dip of 2% and 1.5% respectively within the last hour, likely due to broader market concerns rather than a direct correlation with sUSD (Source: CoinGecko, April 10, 2025, 11:30 AM UTC). The trading volume for AGIX increased by 50% and FET by 30% in the same period, indicating some interest in these AI tokens amidst the market turmoil (Source: CoinGecko, April 10, 2025, 11:30 AM UTC). AI-driven trading algorithms might be adjusting their positions in response to the sUSD depeg, potentially leading to increased volatility in other crypto assets. However, without specific AI news, the correlation remains indirect and driven by overall market sentiment.
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